ann out resorce doubles, page-52

Unya,

I am now a much larger than average shareholder like yourself. I view my investment in IDC as the ultimate contrarian play, both from a fundamental and technical perspective.

My feeling is that IF Promnitz goes down the path of another capital raise, it will again only be a small one until either the POG and the retail outlook improves and/or they have secured alternative finance arrangements.

I see and hear a lot of fretting from nearly every person on this forum, much like a cat that's been forced to take a bath. This is a sure fire sign that logic has completely surrendered to emotion IMO, hence part of my decision to more than double my investment over the last few days.

What generally happens next? Well in the end the cat (though stressing like mad at the time) comes out cleaner and happier.

The point that I'm trying to make here is that we just all need to calm down a bit, be patient, stop being so negative and let IDC do what they're good at.

Another thing to consider is that once brokers initiate coverage and BUY recommendations (IMO) based on the latest announcement, I think we will see a gradual restoration of the SP as retail confidence is slowly regained. I also expect there to be some press and marketing in the coming day/weeks to create further awareness of the latest achievements.

Also, remember there's a gold reserve to be established near term and more drilling of the high grade zones to come before a final decision is made on the scale of the mine.

The below post is from a fellow shareholder who has an interesting take on the need for another CR. I'm sure he won't mind me quoting him on this forum. Includes a recent article from The National (PNG).

Note: My opinion is mine only and in no way am I offering advice of any kind. Please DYOR.

---------------------------------------------------------

'Now that IndoChine has 1.44Million Ounces of Gold in the Measured JORC Category.

This Gold is worth over $1,800,000,000.

You would understand that additional Capital Raisings are not required any longer.

Because when you have $1.8Billion worth of surface Gold at the Highest JORC Category you have made it.

Either of the three events usually occurs after a Measured JORC is released to the ASX that exceeds the funds required for the Mine Construction by 900%+:


1.Finance or
2. JV
or
3. Takeover

And that is based on a Capex of $200Million, which has already been confirmed by the CEO that it will be far less than this to begin construction of the Mine at Mt Kare.

When you have the Prime Minister of PNG personally endorsing the Mt Kare project below, and you have the world's biggest funds helping open Finance/JV/Takeover doors for you, you have to sit back and just enjoy the IndoChine Mining show.'


The National (PNG): Thursday 11 July 2013

Mt Kare exploration to go on

PRIME Minister Peter O'Neill has confirmed that his government will
grant an extension to a mine exploration license to Summit for the explorations
at the Mt Kare mine in the Hela and Enga provinces.

O'Neill said it was long overdue for the Mt Kare people to benefit
from their resources and the Government had decided to grant an extension
to the operation and further exploration in the area.

"We have received an application for an extension for further exploration
from Summit, the operator of the Mt Kare gold mine," O'Neill
told Parliament yesterday.

" I have discussed with Mining Minister Byron Chan and we have
agreed that it should be extended because it has been long overdue.

"Let's give the opportunity to Our people to benefit and Participate in
the development from the mine."

O'Neill was responding to questions from Lagaip-Porgera MP Nixon
Mangape's who wanted to know why it had taken eight months to
process Summit's licence renewal application.